GRAMglobal advertising technology provider The Trade Desk Inc. (TTD) unveiled its new business platform, Solimar, which will help marketers improve their digital marketing campaigns. The company’s stock rose nearly 7% on the news and closed 1.4% higher at $ 77.64 on July 7 (see The Trade Desk stock charts on TipRanks).
The company has spent more than two years developing Solimar, a simple and secure platform that allows marketers to incorporate their own data.
The platform also provides an advanced measurement marketplace that helps connect marketing performance to business objectives with TTD’s advanced AI KOA tools.
Additionally, the platform optimizes performance-based campaigns in real time and creates a powerful user experience while increasing consumer privacy-conscious.
Jeff Green, co-founder and CEO of the company, said: “Marketers are eager to address a wide range of emerging opportunities, from the only change in a generation in television consumption to demonstrating the connection between their campaigns and the Business Growth. and drive advances in consumer-conscious privacy. “
With the evolution in digital marketing occurring at a rapid pace, Solimar provides an accurate transparent cross channel platform that overcomes the limitations offered by the controlled environment of a walled garden.
Needham analyst Laura Martin recently reiterated a Buy rating for the stock with a price target of $ 100 (after split), implying a potential upside of 28.8% at current levels.
Martin said: “We believe that Walled Gardens’ higher share gains are over and that Open Internet will regain market share due to better comparability, metering and the shift to connected television ad units (CTV).
He added: “TTD is the largest demand-side (ie ad buyer) platform on the ‘open internet’ with $ 4 billion to $ 5 billion of total ad spend on its platform in 2021 (which accounts for about 10% of total open internet ad spend) “.
The stock has a Strong Buy consensus rating based on 9 buys and 3 holds. Trade Desk’s average price target of $ 77.72 implies that the stock is almost fully valued at current levels. The shares have gained 67.9% over the past year.
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